Part XVIII

Recognised investment exchanges, clearing houses , CSDs and other parties
CHAPTER 1A

CONTROL OVER RECOGNISED INVESTMENT EXCHANGE

Assessment procedure

Assessment: Procedure
301G
1
The
FCA
must act under section 301F within a period three months from the date the
FCA
receives the completed section 301A notice (“the assessment period”).
2
The
FCA
must inform the section 301A notice-giver in writing of—
a
the duration of the assessment period; and
b
its expiry date.
3
The
FCA
must, within two working days of acting under section 301F (and in any event no later than the expiry date of the assessment period)—
a
notify the section 301A notice-giver that it has determined to approve the acquisition; or
b
in the case of a proposed objection to an acquisition, give a warning notice.
4
The
FCA
is treated as having approved the acquisition if, at the expiry of the assessment period, it has neither—
a
given notice under subsection (3); nor
b
informed the section 301A notice-giver that the notice is incomplete.
5
If the
FCA
decides to object to an acquisition it must give the section 301A notice-giver a decision notice.
6
Following receipt of a decision notice under this section, the section 301A notice-giver may refer
the FCA's
decision to the Tribunal.
Pt. 18 Ch. 1A substituted (21.3.2009) by virtue of The Financial Services and Markets Act 2000 (Controllers) Regulations 2009 (S.I. 2009/534), reg. 5, Sch. 2 (with reg. 8)
Pt. 18 applied in part (with modifications) (12.12.2011) by The Recognised Auction Platforms Regulations 2011 (S.I. 2011/2699), reg. 7, Sch. 2 (as amended (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), reg. 1, Sch. para. 37 (with regs. 7(4), 9(1)))
Pt. 18 heading substituted (28.11.2017) by The Central Securities Depositories Regulations 2017 (S.I. 2017/1064), regs. 1, 2(8) (with regs. 7(4), 9(1))
Word in s. 301G(1) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 8 para. 27(2) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.
Word in s. 301G(2)-(5) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 8 para. 27(2) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.
Words in s. 301G(6) substituted (24.1.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 8 para. 27(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(c), Sch. Pt. 3; S.I. 2013/423, art. 3, Sch.
Words in Pt. 18 heading substituted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), ss. 18(2), 86(3); S.I. 2023/779, reg. 4(m)